Textile Factory
Egypt is gearing up to inaugurate what it claims to be the world’s largest spinning and weaving factory next month ie. February. The investments for the same are exceeding $38 billion, as reported by local news.
The primary goal of the factory is to enhance annual yarn production to 188,000 tonnes and manufacture 50 million clothing items each year. Additionally, the facility targets producing 15,000 tonnes of lint and manufacturing 50 million pieces of clothing annually.
Mahmoud Esmat, the Minister of the Public Business Sector, shared with Arab Finance that the factory, located in the city of Mahalla al-Kubra, is part of Egypt’s national project to develop the textile industry. He also stated, “The ministry of business sector has an investment map with the most important opportunities available in affiliated companies… and we presented it in all forums and business gatherings to private companies within the framework of the state ownership policy document.”
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